ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Retirement Fund - Pure Debt Plan, an open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 07 February 2019 to 21 February 2019.

The investment objective of the Scheme is to seek to generate income through investing in a range of debt and money market instruments of various duration while maintaining the optimum balance of yield, safety and liquidity.

Presently, two options are available under the scheme viz. growth and dividend option with dividend payout only.

The scheme will invest upto 100% of its assets in debt and money market instruments with low to medium risk profile, invest upto upto 10% of assets in units issued by REITs and INVITs with medium to high risk profile with medium to high risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

The minimum additional application amount is Rs 1000 and in multiples of Rs 1 thereafter.

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.

Entry load and exit load charge are not applicable for the scheme.

Benchmark Index for the scheme is Nifty Composite Debt Index.

The fund managers of the scheme are Mrinal Singh and Ashwin Jain for Equity portion and Manish Banthia & Anuj Tagra for Debt portion. The Overseas investments under the scheme will be managed by Priyanka Khandelwal.